Ain, Fuji Heavy, Fujikura, Japan Drilling, Mitsubishi Heavy:Equity Movers
Japan’s Nikkei 225 Stock Average fell 2.48 points to 9,911.71 at the midday trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Ain Pharmaciez Inc. (9627 JT) advanced 2.5 percent to 3,520 yen. The drugstore operator said it expects net income to rise 22 percent to 3.82 billion yen ($41.3 million) this fiscal year, with growing sales.
Fuji Heavy Industries Ltd. (7270 JT) jumped 5.9 percent to 560 yen. The automaker, which produces Subaru cars, may report a record operating profit of about 45 billion yen ($486 million) in North America, Nikkei English News reported, without saying how it got the information.
Fujikura Ltd. (5803 JT) rose 3.4 percent to 455 yen. The cable maker was raised to “outperform” from “neutral” by Hiroshi Matsuda, an analyst at Mizuho Securities Co. The share price estimate was left unchanged at 550 yen.
Japan Drilling Co. (1606 JT) increased 5.6 percent to 3,465 yen. The offshore drilling contractor signed a contract with Daewoo International Corp. (047050 KS) of South Korea to do excavation work at Sittway offshore in Myanmar. The order is estimated at about 3.8 billion yen, Japan Drilling said in a release.
Mitsubishi Heavy Industries Ltd. (7011 JT) increased 1.8 percent to 345 yen. Japan’s biggest heavy-machinery maker moved forward a 600 billion-yen nuclear sales target to 2014 from 2018 because of growing demand in the Middle East, northern Europe and the U.S, Executive Vice President Akira Sawa said in Tokyo.
Nippon Sheet Glass Co. (5202 JT) advanced 2.9 percent to 248 yen. The glassmaker was raised to “neutral” from “underperform” by Mizuho Securities Co. The share price estimate remained at 280 yen.
Pigeon Corp. (7956 JT) climbed 2.5 percent to 3,095 yen. The maker of baby-care products said first-quarter net income advanced to 464 million yen from 358 million yen a year earlier, helped by lower materials costs. The stock was raised to “buy” from “neutral” by Ichiyoshi Research analyst Akihiro Hayashi.
Secom Co. (9735 JT) declined 2.3 percent to 3,900 yen. The security services company was cut to “neutral” from “outperform” by Credit Suisse Group AG. The share price estimate was also lowered to 4,300 yen from 5,000 yen.
Sumitomo Seika Chemicals Co. (4008 JT) leapt 7.2 percent to 341 yen, the most since May 2009. The chemical-products maker aims to generate sales of 100 billion yen for 2015, 77 percent higher than sales in 2009, Sumitomo Seika said in a mid-term management statement.